RSK2602 Assignment 1 (COMPLETE ANSWERS) Semester 2 2025 – DUE 20 August 2025

, RSK2602 Assignment 1 (COMPLETE ANSWERS)
Semester 2 2025 - DUE 20 August 2025; 100%
TRUSTED Complete, trusted solutions and
explanations.

Question 1

Answer the following questions.NO MARK WILL BE AWARDED FOR A
TRUE OR FALSE ANSWER WITHOUT A MOTIVATION.

1.1 Operational failures caused by staff are driven by error, fraud and
data theft. True/False

✅True
Reason: Operational failures caused by staff can stem from
unintentional mistakes (error), deliberate acts (fraud), or malicious
activities such as data theft. These are recognised internal drivers of
operational risk.

1.2 Technology and systems are examples of external drivers of
operational risk management. True/False

✅False
Reason: Technology and systems are internal drivers of operational
risk, not external. External drivers include factors such as economic
conditions, regulatory changes, and natural disasters.

1.3 Operational risk is the risk of loss arising from human error,
management failure and fraud or shortcomings in systems or controls.
This would include strategic and reputational risk.